Search results for "jel:O40"
showing 10 items of 12 documents
Government size, composition, volatility and economic growth
2008
This paper analyses the effects in terms of size and volatility of government revenue and spending on growth in OECD and EU countries. The results of the paper suggest that both variables are detrimental to growth. In particular, looking more closely at the effect of each component of government revenue and spending, the results point out that i) indirect taxes (size and volatility); ii) social contributions (size and volatility); iii) government consumption (size and volatility); iv) subsidies (size); and v) government investment (volatility) have a sizeable, negative and statistically significant effect on growth. info:eu-repo/semantics/publishedVersion
Nonlinear economic growth: Some theory and cross-country evidence
2007
Abstract This paper aims to test the existence of different growth regimes, that is of different relationships between growth rate and income level. We propose a simple nonlinear growth model and test its empirical implications by estimating Markov transition matrices and stochastic kernels. We show that growth is indeed nonlinear: a first phase of slow or zero growth is followed by a take-off and, finally, by a phase of deceleration. We discuss the relevance of these results with respect to the issue of convergence and reversibility of development, in the light of models of structural change and technological diffusion.
Human Capital Inequality, Life Expectancy and Economic Growth
2006
This article presents a model in which inequality affects per capita income when individuals decide to invest in education taking into account their life expectancy, which depends to a large extent on the human capital of their parents. Our results show the existence of multiple steady states depending on the initial distribution of education. The low steady state is a poverty trap in which children raised in poor families have low life expectancy and work as non-educated workers. The empirical evidence suggests that the life expectancy mechanism explains a major part of the relationship between inequality and human capital accumulation. Increases in life expectancy and human capital accumu…
Trade Openness and Income: A Tale of Two Regions
2015
In this article we present evidence of the long-run effect of trade openness on income per worker for two regions that have followed different liberalization strategies, namely Asia and Latin America. A model that re-examines these questions is estimated for two panels of Asian and Latin American countries over the 1980-2008 period using a novel empirical approach that accounts for endogeneity as well as for the time series properties of the variables involved. From an econometric point of view, we apply recent panel cointegration techniques based on factor models that account for two additional elements usually neglected in previous empirical literature: cross-dependence and structural bre…
HUMAN CAPITAL IN GROWTH REGRESSIONS: HOW MUCH DIFFERENCE DOES DATA QUALITY MAKE?.
2000
We construct a revised version of the Barro and Lee (1996) data set for a sample of OECD countries using previously unexploited sources and following a heuristic approach to obtain plausible time profiles for attainment levels by removing sharp breaks in the data that seem to reflect changes in classification criteria. It is then shown that these revised data perform much better than the Barro and Lee (1996) or Nehru et al (1995) series in a number of growth specifications. We interpret these results as an indication that poor data quality may be behind counterintuitive findings in the recent literature on the (lack of) relationship between educational investment and growth. Using our prefe…
Innovación y crecimiento económico: Factores que estimulan la innovación
2012
[ES] El objetivo de este artículo es analizar el papel que desempeñan las innovaciones en la actividad económica. En este sentido, se muestra la relación que existe entre innovaciones y crecimiento económico, como objetivo esencial actual de la política económica para reducir el desempleo y aumentar el bienestar social. Para llevar a cabo este análisis nos basamos en el modelo de Schumpeter, en el que el empresario-emprendedor y el clima social desempeñan un papel relevante en el proceso. El análisis empírico estima una ecuación de innovaciones para el caso de 11 países desarrollados, mostrando que el clima social, representado por la formación y la distribución de la renta, y la política m…
Neoclassical Convergence Versus Technological Catch-Up : A Contribution for Reaching a Consensus.
2004
http://www.businessperspectives.org/files/ppm/PPM_EN_2004_03pp15_42.pdf; International audience; New macro empirical evidence is provided to assess the relative importance of object andidea gaps in explaining the world income distribution dynamics over a benchmark period of 1960-1985. Results are then extended through 1995. Formal statistical hypothesis tests allow us to discriminatebetween two competing growth models: (i) the standard neoclassical growth model similarto that employed by Mankiw, Romer, and Weil (1992), and (ii) an endogenous growth modelclosely related to the Nelson and Phelps' approach (1966) that emphasizes the importance of technologytransfer in addition to factor accumu…
Global Dynamics and Imbalance Effects in the Lucas-Uzawa Model: Further Results
2007
In this paper we use a new analytical approach to the Lucas-Uzawa model (Boucekkine and Ruiz Tamarit, 2007) to extend the existing results on the dynamics, and notably on the imbalance effects arising in the model. The approach does not only allow to extend the traditional analysis to any initial conditions and for all variables in level, but it also permits a more general investigation of imbalance effects.
On international spillovers
2012
Abstract This study investigates the role of international spillovers in generating productivity gains for a panel of 24 OECD countries during the period between 1971 and 2004. We use recent techniques developed in a common factor framework to characterize the global interdependence implied by international spillovers and the diffusion mechanisms involved. Consistently with some recent studies in this field, the evidence suggests that there are substantial cross-country spillovers mainly related to R&D and human capital variables, which contribute significantly to productivity.
Géographie des marchés, firmes globales et performance des métropoles européennes
2011
National audience;